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5 Mar 2020 - Results

- This is an abstract. For further details, please refer to the full press release. –

D’Ieteren Group’s results improved significantly in 2019 driven by Belron’s excellent performance and by another year of improvement at D’Ieteren Auto. The Group’s key performance indicator (KPI) – the adjusted consolidated result before tax, Group’s share – rose by 39.8% (guidance: “about 35% higher”) to EUR 300.7 million on a comparable basis (52.48% stake in Belron in 2018 and 2019).

  • D’Ieteren Auto’s share improved by 130bps in the Belgian new car market (excluding registrations of less than 30 days) which was down 2.5%. The rise in sales (+6.7%) and the adjusted result before tax, Group’s share (+6.1%) mainly reflects higher import volumes, partly offset by a lower contribution from the Retail activities.
  • Belron delivered solid organic sales growth (+7.5%). Its adjusted result before tax, Group’s share improved by 110.5% reflecting volume growth, a positive mix effect and good progress on the Fit for Growth programme.
  • Moleskine’s performance was disappointing in 2019 with sales and the adjusted result before tax, Group’s share decreasing by respectively 5.9% and 48.2%. A new CEO will be joining the company in April 2020.
  • Corporate & Unallocated (including corporate and real estate activities) reported an adjusted result before tax, Group’s share of EUR -10.3 million in 2019 compared to EUR -6.9 million in 2018.
  • The Board of Directors proposes a gross ordinary dividend of EUR 1.15 per share (versus EUR 1.00 in 2019).

For 2020, D’Ieteren aims at a post-IFRS 16 adjusted consolidated result before tax, Group’s share that is at least 25% higher compared to last year’s result (EUR 295.2 million post-IFRS 16). This guidance assumes a 52.48% stake in Belron in 2019 and 2020. This guidance doesn’t take into account potential risks and consequences related to the Coronavirus (COVID-19).

End of the abstract

Group profile

In existence since 1805, and across family generations, D’Ieteren seeks growth and value creation by pursuing a strategy on the long term for its businesses and actively encouraging and supporting them to develop their position in their industry or in their geographies. The Group has currently the following activities:

  • D'Ieteren Auto distributes Volkswagen, Audi, SEAT, Škoda, Bentley, Lamborghini, Bugatti, Porsche and Yamaha vehicles in Belgium. It has a market share of around 22% and 1.2 million vehicles on the road. Its business model is evolving towards providing citizens with responsible and innovative mobility. Sales and adjusted operating result reached respectively EUR 3.6 billion and EUR 119.0 million in FY 2019.
  • Belron (54.85% of the voting rights) has a clear purpose: “making a difference by solving people’s problems with real care”. It is the worldwide leader in vehicle glass repair and replacement and operates in 39 countries, through wholly owned businesses and franchises, with market leading brands – including Carglass®, Safelite® and Autoglass®. In addition, Belron manages vehicle glass and other insurance claims on behalf of insurance customers. Sales and adjusted operating result reached respectively EUR 4.2 billion and EUR 400.5 million in FY 2019.
  • Moleskine (100% owned) is a premium and aspirational lifestyle brand which develops and sells iconic branded notebooks and writing, travel and reading accessories through a multichannel distribution strategy across 114 countries. Sales and adjusted operating result reached respectively EUR 163.9 million and EUR 18.6 million in FY 2019.
  • D’Ieteren Immo (100%) groups together the Belgian real estate interests of D’Ieteren Group. It owns and manages approximately 30 properties which generated EUR 19.7 million net rental income in FY 2019. It also pursues investment projects and carries out studies into possible site renovations.


Francis Deprez, Chief Executive Officer

Arnaud Laviolette, Chief Financial Officer

Pascale Weber, Investor Relations - Tel: + 32 (0)2 536.54.39

E-mail: – Website:

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